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House Price Crash Forum


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About sheppo

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    HPC Newbie
  1. I used to think in this country that obtaining something by deception was illegal (at least that's how I was brought up). Surely then the government, by doing everything they can to allow people who got their hands on a house through a liar loan to keep it, are complicit in their crime? I for one will be pretty mad if these people can keep an asset which is in no way rightfully theirs, only to sell it much later and pass the money to their kids so they can go out and buy a whole heap of BTL's. I'm pretty sure my kids will be equally mad! Any lawyers out there know how we can prosecute the government for conspiracy to defraud (or whatever law is actually applciable)?
  2. "End result - a family who had a secure rental tenancy with the council is homeless and forced into insecure private rented accommodation." Whilst I'm sure there are many vulnerable people who get caught out this way, there are also some lazy, greedy sods who see buying their council house as a way to make loads of cash on the back of HPI without having to work for it. If they end up in insecure private rented accomodation, tough ****! Many of us are there already, purely by working hard enough not to get a council flat! They should be out on the street, keep the welfare state for those who genuinely need it.
  3. Also, a lot of the people who didn't buy back then didn't do so not because they were stupid/pessemistic, many of them were just not in a position to do so. Equally, there were many who bought houses with little financial forethought, but fortunately they did so at the right time and have potentially made money. Those people who have property at the moment and realise the luck involved will, I'm sure, survive the coming storm. Those who think it was entirely down to their own cleverness and that HPI is wholly 'earned' income will surely have a shock soon enough. We need balance in everything for a functioning society, greed begets greed, pride comes before the fall etc.
  4. I was commenting on the argument as it's one of my favourites, not the post. I don't agree with your post either, but that's a different point.
  5. "Anyone who suggests otherwise is a fool. " Ah, the old ones are the best! Anyone who suggests, contrary to my particular view, that the world is not flat, is clearly an imbecile!
  6. "I've always had the opinion that the core driver of personal destinty is ones attitude and in particular ones PESSIMISM FACTOR. AS EVER YOUR DESTINY IS YOURS TO MANIPULATE. " I just love to hear people who are property rich (generally massively indebted to a bank), telling the rest of the world just how clever they are and how only hard work counts. Guess what, I work hard, I am educated, and I'm also betting prices will fall. It seems you took the other side of that bet. Well, good luck to you, just don't come winging if you lose, otherwise you'd be just like all those people you decry. Always remember things can change, you may not be property rich in the future, whose fault will it be if that happens? Yours, for being optimistic?
  7. "A situation where no one can afford to buy or rent, is more than likely unsustainable long before it gets to that point. It would be in no ones interests for that situation to develop." I agree entirely! I'm glad that plenty of people on this site can see just how ridiculous a situation like that would be, unlike all the VI's who seem to think that there is nothing wrong in their scenario of limitless HPI.
  8. "Of course a house is an asset!! If you don't consider it an asset, stop complaining and keep renting! " They are assets, I didn't say they weren't. I'm also not complaining. I'm just pointing out that they are also essential infrastructure. If you keep pushing up prices so people can't buy, and then push up rents so people can't afford the rent, just where do you think the now homeless people are going to live? On the streets? Create a situation where enough people are in that position and we won't be worrying about a house price crash, it'll be the rioting we are worrying about! What makes you think I'm renting by the way?
  9. "Regardless, no one owes you a house in a way that no one owes you a Ferrari. This is not (thankfully) a communist state where houses are dished out by the state depending on the job you do. Everyone has the same opportunity to buy (subject to their income and how much risk they are willing to take). Sure, it would be nice if we could all afford to live in the nicest houses but that is simply unrealistic" If it carries on this way it could well be a communist state before long! Price everyone out, they can't afford to live where they need to for work, they can't work, go on benefits. The only people with any 'wealth' left are the property owners, so guess who is going to be paying! Houses are essential national infrastructure, go against that and consider them pure assets and revolutions are born.
  10. So, been reading this site for a while. 1) Can't afford to buy anywhere where I can get work 2) Can barely afford to rent anywhere I can get work so, HPI continues: 3) Can't rent, Can't work, have to go on benefits HPI continues some more: 4) lots of people end up like this 5) the only people left to pay tax to pay the benefits are the landlords 6) revolution, redistribution of land/property did I miss something or am I being melodramatic?
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